By Gabriel Ewepu

ABUJA – AS financial crimes and corruption remain major impediments to national development and security, the Managing Consultant and Chief Executive, Efiko Management Consulting, Omagbitse Barrow, asserted that Nigerians need training on financial management and ethics.

Speaking at the Global Money Week, Barrow said this training is very important for young Nigerians whom he noted had terribly involved themselves with financial crimes due to poor financial behaviour and weak ethical standards.

He said it is a thing of great concern as young people crave and create illegal avenues for financial flows that have portrayed Nigeria in bad light in the international community, saying financial literacy is one of the most overlooked yet highly impactful areas of education.

However, he said most times, education comes late when people are already into their business ventures, therefore, it becomes difficult to change their orientation at that point.

He argued that financial education should also focus on value creation, and responsible wealth building instead of savings and investment alone.

Meanwhile, he expressed concern over the prevalence of corruption, and connected it with behavioural patterns, but said adequate and in-depth financial education can bring about accountability, discipline, and delayed gratification, and will reducing unethical financial shortcuts.

Efiko Management Consulting has been actively involved in promoting financial literacy initiatives across Nigeria, and has collaborated with the Securities and Exchange Commission Nigeria through its National Financial Literacy Technical Committee to develop educational materials, including animated and digital content used in nationwide campaigns.

These efforts were carried out in partnership with organisations such as Stanbic IBTC, Nigerian Exchange Group, and Emerging Africa.

At the grassroots level, the firm has partnered with institutions including First City Monument Bank, Access Bank, Zenith Bank, and Stanbic IBTC to introduce practical tools such as board games and storybooks in schools and youth programmes.

One of its flagship initiatives, the Coins of Character programme, was implemented in schools across Abuja between 2023 and 2025, and reached over 900 students and teachers in over 30 schools, with additional indirect impact through extended school-based activities.

The firm also worked with the Central Bank of Nigeria, CBN, Consumer Protection Department during Global Money Week and organised free webinars for parents and teachers to strengthen financial education at home and in classrooms.

According to him (Barrow), his organisation plans to expand its reach through digital platforms, broader partnerships, and curriculum-based models that can be integrated into Nigeria’s formal education system.